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2013 and earlier Lexus GS 350 / GS 460 Lease Questions

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Comments

  • mofitmofit Member Posts: 3
    What dealer?
  • travispetetravispete Member Posts: 24
    Concord
  • tkv_01tkv_01 Member Posts: 20
    Thank for your info. So the payment (621) was included tax and all dealer fees?
  • tkv_01tkv_01 Member Posts: 20
    Car_man,
    I got a lease offer from the local lexus dealer on 2013 gs350 AWD;

    Msrp 55407, 10k/36, 4000 drive off, 599 per month incl tax n fees.
    Is it good or bad deal here? What are the dealer fees?
  • nystarnystar Member Posts: 28
    edited March 2012
    Car Man

    If I geS350 with luxury Package (MSRP 59K), Lets say I get it 3K Below MSRP how should i break down the numbers to get the monthly payment based on 36 months 10K a year, $0 DOWN, I will just pay the bank, Doc, DMV fees?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tkv_01. Did the dealer tell you this car's selling price? The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number it is more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know what this number is and I'm sure that either myself or another helpful community member will gladly tell you what they think.

    Car_man
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  • nystarnystar Member Posts: 28
    Car_man

    I went to various dealers (MB, BMW, and Lexus), what I've noticed is that they give you the residual and money factor numbers and selling price but those numbers does not match?
    EXAMPLE:

    GS 350 AWD +luxury Package MSRP is 59K, residual is around 66% I think, money factor is around 0.002, if you do the calculation you will find out that on 10K miles 36 months lease this fully loaded car should be around $563 a month with $0 down. However the national offer for the cheaper model ($55K Car) is $599/Month with 3200 Down ?!

    Did the same with other brands like BMW, They give you all the numbers but when you do the calculations you will find out that you will be paying around 60% of the car price at the lease end regardless of the residual value(they give you the residual number but they don't apply it to the lease payments!!!!)

    My question is does those number need to match all the time? Should we always insist that the total lease payment match the residual of the car?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nystar. Let's crunch some numbers and see what we come up with. According to my calculations, if you were to lease a 2013 GS 350 Luxury that has an MSRP of $59,000 and a selling price of $56,000 through Lexus Financial Services right now for 36-months with 10,000 miles per year, your zero down pre-tax monthly payment would be around $701.

    Car_man
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  • nystarnystar Member Posts: 28
    Car_man

    Thank you very much for your quick response, can you write the details of your calculations so I can understand and apply it to any other deal in the future?

    Thanks

    NyStar
  • travispetetravispete Member Posts: 24
    Yes....and i literally left paying like 150 in drive offs bc of the conquest cash which absorbed all of the dealer fees, drive offs and first month
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome NyStar . I used Excel and the formula that is outlined in the following article to calculate your payment: Calculate Your Own Lease Payment.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • johnwang2010johnwang2010 Member Posts: 3
    what is current residual and money factor for SCal?
    if MSD is used, what is minimum MF?
  • kooldoc98kooldoc98 Member Posts: 11
    edited March 2012
    I am getting a deal on black/flaxen 2013 GS premium package with blind spot monitor,navigation,
    cold weather pckg, 18" alloy wheels MSRP 55,907 with about $ 1500 off
    i think residual is 58 and MF is 0.00219
    lease terms 42 mths @ 15,000/yr
    due at signing $1375 (includes 1st mth payment , and other fee)
    monthly payments come to $775 / mth (inclusive of tax)
    Any thoughts?
  • zoombie99zoombie99 Member Posts: 320
    Yes, you can get the rate down by using MSD (multiple security deposits). This can reduce your payments since the money factor will be lower. You get the money back at the end of the lease. The monthly savings can be significant. Someone on another site pit down 5,800.00 in MSDs and he calculated the lower rate was like getting a 15% return on the deposit.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • sonu79sonu79 Member Posts: 28
    This is my lease terms.
    lexus gs350 f sport (rivera red with flaxen) very hard combination to get. One 1 left in the entire west coast from Longo Lexus in Southern Cal
    Msrp 56,455
    The terms were 24 month Residual 70% money factor .0020 (could have gone to .0019 but i had 4 other vehicle loan under my name)
    Car was sold to me at $300 over invoice and they took off additional $1,500( conquest) from my down payment.

    $1,430 total drive off
    23 payments at $725 plus tax
    15k miles a year

    the residual is 73% if you like the standard gs350
  • kooldoc98kooldoc98 Member Posts: 11
    Can you share what was the monthly payment excluding tax?
    Thanks.
  • kooldoc98kooldoc98 Member Posts: 11
    What should be the monthly payment for GS 350, 2013 with MSRP of 55907 + 700 acquisition fee
    based on current residuals and MF?
    lease terms 42 months/15 K / year
    Input from Car Man or anyone will be appreciated.
  • sonu79sonu79 Member Posts: 28
    I think based on your figure you should estimate around $1,500 total drive off
    $610 to $630 plus tax. based on 36 month 15k a year
  • sonu79sonu79 Member Posts: 28
    keep in mind the buying price is at invoice
  • kooldoc98kooldoc98 Member Posts: 11
    So selling price which is equal to invoice price is good for the buyer or lessee?
    my numbers come to $775/mth including taxes and fee with zero down except for 1st month payment and doc fee.
    also, if I choose MSD x 4 then monthly payment comes to $750/mth (including taxes)
  • zoombie99zoombie99 Member Posts: 320
    Getting a car close to invoice is good for both. If you buy, the purchase price will be lower and if you lease, your monthly payment will be lower.

    Your numbers don't mean a thing until you tell us the MSRP and the purchase price. Also the term and the amount of miles. What is the Money Factor (prior to MSD) the dealer quoted you?
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • zoombie99zoombie99 Member Posts: 320
    Car man, can you please give me the MF and residual for a 15k, three year lease.(tier 1h Also, has Lexus terminated the conquest credit?
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • kooldoc98kooldoc98 Member Posts: 11
    edited April 2012
    selling price 55900 + 700 acq fee
    MF 0.00177
    Residual 58%
    42 months
    15k/yr
    0 down except for first mth payment and doc fee of 599
    based on this I have been quoted 775/mth
    any thoughts???
  • zoombie99zoombie99 Member Posts: 320
    Selling price is 55,900.00 but what is the MSRP?
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • sonu79sonu79 Member Posts: 28
    You are getting ripped off at that deal.
    could you be more specific. the model gsport/luxury/regular trim
    i would go for 36 month rather than 42
    please provide the msrp stricker price of the vehicle
  • kooldoc98kooldoc98 Member Posts: 11
    MSRP is 55900 i.e. dealership is not giving me any discount
    and this is for GS 350 2013 premium package
    42 mths @ 15k/yr
    i had been to 3 dealerships in Ky and OH and none of them are giving me any discount on MSRP.This dealer in KY is giving me a higher residual and better MF than others it looks like.
    when i used the lease calulator (available on this site I got the same numbers )
  • kooldoc98kooldoc98 Member Posts: 11
    MSRP is 55900 i.e. dealership is not giving me any discount
    and this is for GS 350 2013 premium package
    42 mths @ 15k/yr
    i had been to 3 dealerships in Ky and OH and none of them are giving me any discount on MSRP.This dealer in KY is giving me a higher residual and better MF than others it looks like.
    when i used the lease calulator (available on this site I got the same numbers )
  • sonu79sonu79 Member Posts: 28
    How are you getting a higher residual. I can see that you got a lower money factor.
    I have 24 month lease on a fsport(which has a 3% lower residual)
    I got it at 70% If you were leasing your car with just premium package you should get 73% residual on 2 year.
    why dont you use 3 party lease outlets like cardirect.com or leaseoutlet.com
  • sandiegobuyersandiegobuyer Member Posts: 1
    Thanks to all on this forum for sharing their information. Without your help my experience would have been difficult. I just leased the new GS350 with premium pack and a few small extras. Here are the numbers:

    msrp $52517
    sale price $49490
    multiple security deposits $4400
    drive off 1st pay and upfront fees $1800
    total drive off $6200
    66% residual
    money factor was .00182 minus .00064 for the security deposit
    final money factor .00118 (2.83%)
    36 month lease
    10k miles
    $511 monthly payment b4 tax or $551 for everything.

    The dealer was very professional, but if I had not done the homework on the multiple deposit,
    they were not going under .00215 MF.

    again, I am very grateful for all the posters!
  • billyperksiibillyperksii Member Posts: 198
    Why bother to lease with such a huge down payment?
    I would have financed the car-at least you would have something to show after five yrs.
  • zoombie99zoombie99 Member Posts: 320
    You are reading it wrong. He applied MSD to reduce his payment. He gets the MSD back at the end of his lease. Sounds like a good deal to me! MSD are the way to go.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi zoombie99. Lexus Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a base 2013 GS 350 with 15,000 miles per year are .00190 and 63%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Yes, the conquest cash did indeed go away.

    Car_man
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  • zoombie99zoombie99 Member Posts: 320
    There is no need to pay MSRP any more. Dealers on the east coast are finally giving substantial discounts. Fly out and drive back to Ohio, you will save thousands, especially if you get it at the end of this month .
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • kooldoc98kooldoc98 Member Posts: 11
    thank you for your advice,but i needed a car earlier this month so have already signed the lease
    2013 GS350/AWD with premium package,blind spot monitor,18"wheels,cold weather package
    42 mths@ 15k/yr
    0 down (except for first month payment)
    MSRP 55600
    Residual 63%
    745/mth tax included
    I know not a good deal but as mentioned had been waiting for this car since January and it was time to lease one.I tried 3 different dealerships but not much success with MSRP.
  • zoombie99zoombie99 Member Posts: 320
    How do you like it?
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • kooldoc98kooldoc98 Member Posts: 11
    Like? the car, yes!!! worth it , including ride and luxury features
    but the deal , could have been way better.
    will try luck next time.
    I was in looking fro Audi A6 earlier but changed my mind since Audi had low residuals and higher monthly payments.
    Audi is superior in some aspects but after riding in lexus found lexus not to be inferior to Audi in some things.
  • zoombie99zoombie99 Member Posts: 320
    I drove the A6 and I felt cramped, I'm 6'1" amd the Lexus seems to have more room for the driver
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • zoombie99zoombie99 Member Posts: 320
    Lexus has brought back the conquest in May for the GS350. The bad news is that they lowered the residuals. (I think it is 1% but I haven't confirmed same)
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • abacomikeabacomike Member Posts: 12,250
    edited May 2012
    Lexus has brought back the conquest for May

    I checked out a few dealers down here in Southeast Florida and rather than lease, I bought it on Sunday, April 29th. In Florida, they had a $1500 conquest available for April. The car I bought was a GS350 base with an MSRP of $58,860. Selling price was $54,500 at the top of the buyer's order. They then subtracted the $1500 cash back for conquest certificate from the balance owed at the bottom. They had a dealer fee of $699 (all FL dealers have a dealer fee, no way around it). They got me financed at 2.69% for 60 months on a $16,000 loan balance.

    So, all I am trying to say is if you shop hard, and you have 6 dealerships within a 30 mile radius of each other, great deals are available. Remember, 3 of those dealerships are among the top selling dealerships in the country.

    2021 Genesis G90

  • zoombie99zoombie99 Member Posts: 320
    :( I posted this on another forum yesterday but I thought I should post it here also:

    I was playing around with lease calculators today inserting various numbers for a premium edition and a luxury model. The residual is a few points lower for the luxury edition. I am looking at a three year 15k lease. My conclusion is that there is about a $100.00 difference per month for the luxury model. Over 36 months it is $3,600 so you are practically paying 90 percent of the option costs. In other words, the difference between the MSRP may be around 4k, the residuals difference is less than 1k.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • msfrodmsfrod Member Posts: 1
    Great deal. Which dealer did you deal with? I'm in South Florida and some dealerships are playing hardball.
  • abacomikeabacomike Member Posts: 12,250
    I'm in South Florida which dealer did you go to

    First of all there is $1500 conquest available if you have a competing car like a Cadillac, Mercedes, BMW, etc. I went to Lexus of Pemboke Pines. Their deal was far superior to any other dealer in South Florida.

    See Yucel Genc, my salesperson and tell him Mike from Coconut Creek sent you in. They have a nice inventory and their service is exceptional. I drive 55 miles round trip to get that deal. The largest Lexus dealer in the country in Margate, 1 mile away couldn't come close to the deal I got.

    Definitely worth the extra miles when you can save a bunch of money. And they are not as snooty as the Margate dealership, which shall remain nameless.

    2021 Genesis G90

  • abacomikeabacomike Member Posts: 12,250
    I drove the Audi A6 and felt cramped

    Interesting, as I too am 6'2" and felt squeezed in when I test drove the A6, the Jaguar XF and most other cars in this Luxury Sport group. Then I drove the new GS350 and it was so comfortable I was truly amazed.

    I test drove both the base and the sport model but found the Sport's interior too metallic - no wood on the console or trim areas, just grooved aluminum - no my preference in a sport luxury car. So I settled for the base car which has YHE adaptive ride function with the luxury package - econo, sport and S+. in S+ mode, the steering and suspension stiffen significantly as does the gear shifts.

    This new GS350 is very technologically advanced and I am still figuring out the various settings and screens. Used NAV yesterday for the first time and it was far superior to Mercedes, BMW and Audi. Easier to set using voice recognition. Voice is consistent in audio, NAV, phone and all other APPS with Lexus Enform. Blind spot monitor is terrific and the heads up display is phenomenal as it shows NAV route instructions with arrows.

    Car is 2" longer than the previous GS and it was used to increase front leg room. Also 2" higher for taller drivers.

    Great car - and the new technology and body styling will be expanded to the entire line starting with this new GS350.

    Definitely worth a second look.

    2021 Genesis G90

  • kapkanimdkapkanimd Member Posts: 136
    Does anyone know the May lease residuals and MF for the GS 350? Loooking at getting a Luxury package one for a decent price. 36 mo 10k miles. Thanks in advance.

    Keith
  • abacomikeabacomike Member Posts: 12,250
    Read my post in the GS350 forum about tire problems on the new 2013 GS350. Make sure before you get one that you make sure there is no vibration in the steering wheel when the tires are cold!!!

    2021 Genesis G90

  • zoombie99zoombie99 Member Posts: 320
    Aba, while I had those problems with my 2006 GS, very few people are reporting tire issues on the 4th Generation. There has been an AC issue which I believe has been fixed and some others have reported rattles.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • kapkanimdkapkanimd Member Posts: 136
    One last attempt. Trying to finalize a deal on this car before end of month. Does anyone know the 36mo 10k mi residual for the GS 350. I under the impression it was 62% for 15kmi and dropping it to 10k mi it becomes 65%. The dealer is telling me it is 62% for 10k mi. I just want to make sure they are not lying to me. Thanks in advance.
  • zoombie99zoombie99 Member Posts: 320
    It is my understanding the residuals dropped this month by 1% and there is a different residual for a base model vs a luxury model. What model are you looking at? have you agreed to a price?
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • zoombie99zoombie99 Member Posts: 320
    edited May 2012
    I think it ia 59% for a luxury at 15K. Of you get the premium model, it would be 62% for 15k. If you look at the numbers, you are paying about for about 90% of the additional options in the luxury model during the lease term. Therefore, your payment will be about 100 less if you drop to a prem. model.
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • kapkanimdkapkanimd Member Posts: 136
    Thanks for the help, yeah we are looking at the luxury with 10k miles. Was just a little weird that there is different residuals for different option. Thanks though.
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